Kraken Robotics (CVE:PNG) Rating Lowered to Strong Sell at ATB Cormark Capital Markets

Kraken Robotics (CVE:PNG) was downgraded by stock analysts at ATB Cormark Capital Markets from a “hold” rating to a “strong sell” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have a C$6.50 target price on the stock, up from their previous target price of C$5.50. ATB Cormark Capital Markets’ price target indicates a potential downside of 31.43% from the company’s previous close.

A number of other research analysts have also commented on the stock. Raymond James Financial upped their price target on shares of Kraken Robotics from C$4.00 to C$6.25 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. National Bank Financial upgraded Kraken Robotics from a “hold” rating to an “outperform” rating and boosted their price objective for the stock from C$8.75 to C$13.00 in a report on Friday. Cormark cut Kraken Robotics from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Desjardins upped their target price on Kraken Robotics from C$9.50 to C$14.00 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$8.75.

Kraken Robotics Stock Performance

CVE PNG opened at C$9.48 on Friday. The firm has a 50-day moving average of C$8.28 and a 200-day moving average of C$6.42. The company has a debt-to-equity ratio of 16.12, a quick ratio of 0.64 and a current ratio of 7.30. The stock has a market cap of C$2.91 billion, a PE ratio of 135.43 and a beta of 0.72. Kraken Robotics has a 52-week low of C$2.06 and a 52-week high of C$10.72.

Kraken Robotics Company Profile

Kraken Robotics Inc, a marine technology company, engages in the design, manufacture, and sale of sonar and optical sensors, batteries, and underwater robotic equipment for unmanned underwater vehicles used in military and commercial applications in Canada, the Asia Pacific, Europe, the Middle East, Africa, North America, and internationally. It operates in two segments, Products, and Services. The company offers AquaPix miniature interferometric synthetic aperture sonar (MINSAS), a configurable MINSAS; and SeaPower, a pressure tolerant deep sea batteries.